KEY EVENTS TO WATCH FOR:

Friday, January 4, 2019 

8:30 PM ET. U.S. Weekly Export Sales

                       Corn (Metric Tons)

                       Soybeans (Metric Tons)

                       Wheat (Metric Tons)

8:30 AM ET. December U.S. Employment Report

                       Non-Farm Payrolls (expected +176K; previous +155K)

                       Unemployment Rate (expected 3.6%; previous 3.7%)

                       Avg Hourly Earnings (USD) (previous 27.35)

                       Avg Hourly Earnings-Net Chg (USD) (previous +0.06)

                       Avg Hourly Earnings, M/M% (expected +0.3%; previous +0.22%)

                       Avg Hourly Earnings, Y/Y% (previous +3.1%)

                       Overall Workweek (previous 34.4)

                       Overall Workweek Net Chg (previous -0.1)

                       Government Payrolls (previous -6K)

                       Private Payroll (previous +161K)

                       Participation Rate (previous 62.9%)

                       Non-Farm Payrolls Bench Net Chg

9:45 AM ET. December US Services PMI

                       PMI, Services (previous 54.7)

10:30 AM ET. EIA Weekly Natural Gas Storage Report

                       Working Gas In Storage (Cbf) (previous 2725B)

                       Working Gas In Storage, Net Chg (Cbf) (previous -48B)

11:00 AM ET. December Global Services PMI

                       PMI, Services (previous 53.7)

11:00 AM ET. EIA Weekly Petroleum Status Report

                       Crude Oil Stocks (Bbl) (previous 441.411M)

                       Crude Oil Stocks, Net Chg (Bbl) (previous -0.046M)

                       Gasoline Stocks (Bbl) (previous 233.106M)

                       Gasoline Stocks, Net Chg (Bbl) (previous +3.003M)

                       Distillate Stocks (Bbl) (previous 119.902M)

                       Distillate Stocks, Net Chg (Bbl) (previous +0.002M)

                       Refinery Usage (previous 95.1%)

                       Total Prod Supplied (Bbl/day) (previous 20.741M)

                       Total Prod Supplied, Net Chg (Bbl/day) (previous -1.588M)

Monday, January 7, 2019 

10:00 AM ET. November Manufacturers' Shipments, Inventories & Orders (M3)

                       Total Orders, M/M% (previous -2.1%)

                       Orders, Ex-Defense, M/M% (previous -0.4%)

                       Orders, Ex-Transport, M/M% (previous +0.3%)

                       Durable Goods, M/M% (previous -4.4%)

                       Durable Goods, M/M% (previous -4.3%)

10:00 AM ET. December Employment Trends Index

                       ETI (previous 110.41)

                       ETI, Y/Y% (previous +4.4%)

10:00 AM ET. December ISM Non-Manufacturing Report on Business

                       Non-Mfg Composite Idx (previous 60.7)

                       Non-Mfg Business Idx (previous 65.2)

                       Prices Idx (previous 64.3)

                       Employment Idx (previous 58.4)

                       New Orders Idx (previous 62.5)

The STOCK INDEXES? http://quotes.ino.com/ex?changes/?c=indexes ""

The March NASDAQ 100 closed sharply lower on Thursday as it consolidated some of the rally off last-Wednesday's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March resumes the decline off December's high, weekly support crossing at 5752.25 is the next downside target. Closes above the 20-day moving average crossing at 6460.46 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 6460.46. Second resistance is the 50-day moving average crossing at 6728.99. First support is last-Wednesday's low crossing at 5820.50. Second support is long-term support on the weekly continuation chart crossing at 5752.25. 

The March S&P 500 closed sharply lower on Thursday as it consolidates some of the rally off last-Wednesday's low. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off December's high,the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04 is the next downside target. Closes above the 20-day moving average crossing at 2548.52 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2548.52. Second resistance is the 50-day moving average crossing at 2653.22. First support is last-Wednesday's low crossing at 2317.70. Second support is the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04.

The Dow closed sharply lower on Thursday after a survey of American manufacturers showed the sector growing at its slowest pace in two years, and following Apple Inc.’s move to lower its sales forecasts, citing weak demand from China that underscored broader concerns about the global economy. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading.Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow renews the decline off December's high, weekly support crossing at 21,600.34 is the next downside target. Closes above the 20-day moving average crossing at 23,625.57 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 23,625.57. Second resistance is the 50-day moving average crossing at 24,559.37. First support is last-Wednesday's low crossing at 21,712.53. Second support is weekly support crossing at 21,600.34.

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March T-bonds closed up 1-19-points at 148-11.

March T-bonds closed sharply higher on Thursday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remains neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 38% retracement level of the 2016-2018-decline crossing at 152-01 is the next upside target. Closes below the 20-day moving average crossing at 144-12 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 148-23. Second resistance is the 38% retracement level of the 2016-2018-decline crossing at 152-01. First support is the 10-day moving average crossing at 145-25. Second support is the 20-day moving average crossing at 144-12.         

March T-notes closed up 295-points at 123-035.

March T-notes closed higher on Thursday as it extends the rally off October's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 38% retracement level of the 2016-2018-decline on the weekly continuation chart crossing at 123.270 is the next upside target. Closes below the 20-day moving average crossing at 121.013 would confirm that a short-term top has been posted. First resistance is today's high crossing at 123.055. Second resistance is the 38% retracement level of the 2016-2018-decline on the weekly continuation chart crossing at 123.270. First support is the 10-day moving average crossing at 121.203. Second support is the 20-day moving average crossing at 121.013.         

ENERGY MARKETS? http://quotes.ino.com/ex?changes/?c=energy ""

February crude oil closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 48.52 are needed to confirm that a short-term low has been posted. If February renews the decline off October's high, the January-2016 low crossing at 41.48 is the next downside target. First resistance is the 20-day moving average crossing at 48.52. Second resistance is the reaction high crossing at 54.55. First support is last-Monday's low crossing at 45.13. Second support is the January-2016 low crossing at 41.48. 

February heating oil closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night trading session begins. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 177.70 are needed to confirm that a low has been posted. If February extends the decline off October's high, the 87% retracement level of the 2017-2018-rally crossing at 162.34 is the next downside target. First resistance is the 20-day moving average crossing at 177.70. Second resistance is the reaction high crossing at 188.40. First support isthe 87% retracement level of the 2017-2018-rally crossing at 162.34. Second support is the June-19th-2017 low crossing at 150.08.

February unleaded gas closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 137.16 would confirm that a short-term low has been posted. If February resumes the decline off October's high, the January-10th 2016 low crossing at 110.45 is the next downside target. First resistance is the 50-day moving average crossing at 151.06. Second resistance is the reaction high crossing at 151.77. First support is last-Wednesday's low crossing at 122.93. Second support is the January-10th 2016 low crossing at 110.45.

February Henry natural gas closed lower on Thursday as it extends the decline off November's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If February extends this month's decline, the February-2016 low crossing at 2.770 is the next downside target. Closes above Monday's gap crossing at 3.278 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 3.421. Second resistance is the 20-day moving average crossing at 3.767. First support is today's low crossing at 2.878. Second support is the February-2016 low crossing at 2.770.    

CURRENCIES? http://quotes.ino.com/ex?changes/?c=currencies ""

The March Dollar posted an inside day with a lower close on Thursday leaving yesterday's key reversal up unconfirmed. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. If March extends the decline off December's high, November's low crossing at 94.91 is the next downside target. If March renews the rally off September's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is December's high crossing at 97.20. Second resistance is weekly resistance crossing at 97.83. First support is the reaction low crossing at 95.38. Second support is November's low crossing at 94.91.     

The March Euro closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If March renews the decline off September's high, the 87% retracement level of the 2016-2018-rally crossing at 111.94 is the next downside target. If March renews the rally off December's low, November's high crossing at 116.45 is the next upside target. First resistance is the reaction high crossing at 115.92. Second resistance is November's high crossing at 116.45. First support is November's low crossing at 113.53. Second support is the 87% retracement level of the 2016-2018-rally crossing at 111.94.    

The March British Pound posted an upside reversal as it closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off September's high, the October-2016 low crossing at 1.2384 is the next downside target. Closes above the 50-day moving average crossing at 1.2856 would open the door for a possible test of November's high crossing at 1.3257. First resistance is the 50-day moving average crossing at 1.2856. Second resistance is November's high crossing at 1.3257. First support is today's low crossing at 1.2512. Second support is the October-2016 low crossing at 1.2384. 

The March Swiss Franc posted an inside day with a higher close on Friday.The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below last-Wednesday's low crossing at 1.0117 would confirm that a short-term top has been posted. If March extends the rally off November's low, the 50% retracement level of the September-November-decline crossing at 1.0330 is the next upside target. First resistance is last-Friday's high crossing at 1.0288. Second resistance is the 50% retracement level of the September-November-decline crossing at 1.0330. First support is the reaction low crossing at 1.0097. Second support is November's low crossing at 1.0018.

The March Canadian Dollar closed sharply higher on Thursday as it consolidates some of the decline off October's high. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 74.35 are needed to confirm that a short-term low has been posted. If March extends the decline off October's high, the 75% retracement level of the 2016-2017-rally crossing at 72.93 is the next downside target. First resistance is the 20-day moving average crossing at 74.35. Second resistance is the 50-day moving average crossing at 75.37. First support is Monday's low crossing at 73.30. Second support is the 75% retracement level of the 2016-2017-rally crossing at 72.93. 

The March Japanese Yen gapped up and closed sharply higher on Thursday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Friday’s night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, the 75% retracement level of the March-November-decline crossing at 0.0957 is the next upside target. Closes below below today's gap crossing at 0.0925 would confirm that a short-term top has been posted. First resistance is the 62% retracement level of the March-November-decline crossing at 0.0944. Second resistance is the 75% retracement level of the March-November-decline crossing at 0.0957. First support is today's gap crossing at 0.0925. Second support is the 10-day moving average crossing at 0.0912.  

PRECIOUS METALS? http://quotes.ino.com/ex?changes/?c=metals ""

February gold closed higher on Thursday and above the 50% retracement level of the April-August-Decline crossing at 1286.10 as it extends the rally off August's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the 62% retracement level of the April-August-Decline crossing at 1312.70 is the next upside target. Closes below the 20-day moving average crossing at 1260.90 would confirm that a short-term top has been posted. First resistance is today's high crossing at 1296.00. Second resistance is the 62% retracement level of the April-August-Decline crossing at 1312.70.First support is the 10-day moving average crossing at 1273.90. Second support is the 20-day moving average crossing at 1260.90.

March silver closed higher on Thursday as it extends the rally off November's low. The high-range close set the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, is the 50% retracement level of the 2017-2018-decline crossing at 16.279 is the next upside target. Closes below the 20-day moving average crossing at 14.931 would confirm that a short-term top has been posted. First resistance is today's high crossing at 15.815. Second resistance is the 50% retracement level of the 2017-2018-decline crossing at 16.279. First support is the 10-day moving average crossing at 15.180. Second support is the 20-day moving average crossing at 14.931.         

March copper closed lower on Thursday as it extends the decline off December's high. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, the 62% retracement level of the 2016-2018-rally crossing at 251.75 is the next downside target. Closes above the 50-day moving average crossing at 273.53 would confirm that a short-term low has been posted. First resistance is the reaction high crossing at 280.35. Second resistance is December's high crossing at 285.80. First support is today's low crossing at 254.30. Second support is the 62% retracement level of the 2016-2018-rally crossing at 251.75.

GRAINS? http://quotes.ino.com/ex?changes/?c=grains "

March Corn closed up 4 1/2-cent at 3.80 1/4. 

March corn closed higher on Thursday.The high-range close sets the stage for a steady to higher opening when Friday's night sessions begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 3.80 1/2 would confirm that a short-term low has been posted. If March extends the decline off December's high, November's low crossing near 3.67 1/4 is the next downside target. First resistance is December's high crossing at 3.87 3/4. Second resistance is November's high crossing at 3.90. First support is last-Wednesday's low crossing near 3.72 1/2. Second support is November's low crossing at 3.67 1/4. 

March wheat closed up 71/4-cents at 5.14. 

March wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off December's high, psychological support crossing at 5.00 is the next downside target. Closes above the 20-day moving average crossing at 5.20 would temper the near-term bearish outlook. First resistance is the 20-day moving average crossing at 5.20. Second resistance is December's high crossing at 5.38 1/2. First support is Wednesday's low crossing at 5.01 1/4. Second support is psychological support crossing at 5.00.    

March Kansas City Wheat closed up 11-cents at 5.03 1/2. 

March Kansas City wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 5.08 1/4 would confirm that a short-term low has been posted. If March extends the decline off December's high, November's low crossing at 4.82 1/4 is the next downside target. First resistance is December's high crossing at 5.24 1/2. Second resistance is November's high crossing at 5.33 3/4. First support is Monday's low crossing at 4.87 1/4. Second support is November's low crossing at 4.82 1/4.  

March Minneapolis wheat closed up 11 1/4-cents at 5.65 1/4. 

March Minneapolis wheat closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 5.75 1/4 are needed to confirm that a short-term low has been posted. If March resumes the decline off December's high, weekly support on the continuation chart crossing at 5.23 3/4 is the next downside target. First resistance is the 20-day moving average crossing at 5.68 1/2. Second resistance is the 50-day moving average crossing at 5.75 1/4. First support is last-Thursday's low crossing at 5.44 1/2. Second support is weekly support crossing at 5.23 3/4.  

SOYBEAN COMPLEX? http://quotes.ino.com/ex?changes/?c=grains "

March soybeans closed up 3 1/2-cents at 9.10 1/2.

March soybeans closed higher on Thursday. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 9.11 are needed to temper the near-term bearish outlook. If March renews the decline off December's high, the reaction low crossing at 8.71 1/4 is the next upside target. First resistance is the 50% retracement level of the May-September-decline crossing at 9.46 1/2. Second resistance is the 62% retracement level of the May-September-decline crossing at 9.72 1/4. First support is the reaction low crossing at 8.71 1/4. Second support is October's low crossing at 8.58.  

March soybean meal closed up $1.40 at 316.30. 

March soybean meal closed higher on Thursday as it extends the September-January-trading range. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 316.90 are needed to confirm that a low has been posted. If March resumes the decline off December's high, November's low crossing at 305.30 is the next downside target. First resistance is December's high crossing at 321.70. Second resistance is October's high crossing at 327.40. First support is November's low crossing at 305.30. Second support is September's low crossing at 303.40. 

March soybean oil closed up 20 pts. at 28.38. 

March soybean oil higher on Thursday as it extended the rally off December's low. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 28.51 are needed to confirm that a low has been posted. If March renews the aforementioned decline, November's low crossing at 27.42 is the next downside target. First resistance is the 20-day moving average crossing at 28.51. Second resistance is the reaction high crossing at 29.09. First support is last-Thursday's low crossing at 27.58. Second support is November's low crossing at 27.42.   

LIVESTOCKhttp://quotes.ino.com/exchanges/?c=livestock 

February hogs closed up $0.45 at $62.15. 

February hogs closed higher on Thursday. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 64.21 would confirm that a short-term low has been posted. If February extends the decline off November's high, November's low crossing at 59.25 is the next downside target. First resistance is the 20-day moving average crossing at 63.45. Second resistance is the 50-day moving average crossing at 64.21. First support is last-Thursday's low crossing at 60.25. Second support is November's low crossing at 59.25.    

February cattle closed down $0.30 at 123.23. 

February cattle closed lower on Thursday. The mid-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 122.64 would confirm that a short-term top has been posted. If February extends the rally off November's low, weekly resistance crossing at 127.95 is the next upside target. First resistance is Monday's high crossing at 124.95. Second resistance is weekly resistance crossing at 127.95. First support is the 20-day moving average crossing at 122.64. Second support is the 50-day moving average crossing at 121.45.   

March Feeder cattle closed down $1.50 at $144.45. 

March Feeder cattle closed lower on Thursday and below the 20-day moving average crossing at 144.82 confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower opening when Friday's session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends today's decline, the reaction low crossing at 142.72 is the next downside target. If March extends the rally off December's low, November's high crossing at 149.23. First resistance is Monday's high crossing at 147.58. Second resistance is November's high crossing at 149.23. First support is the reaction low crossing at 142.72. Second support is December's low crossing at 140.35.  

FOOD & FIBERhttp://quotes.ino.com/ex changes/?c=food 

March coffee closed higher on Thursday. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are turning neutral signaling that sideways trading is possible near-term. If March resumes the decline off October's high, weekly support crossing at 9.51 is the next downside target. Closes above the 20-day moving average crossing at 10.24 would confirm that a short-term low has been posted.            

March cocoa closed lower on Thursday. The mid-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off December's low, July's high crossing at 25.96 is the next upside target. Closes below the 20-day moving average crossing at 22.77 would confirm that a short-term top has been posted.     

March sugar closed lower on Thursday as it extends the decline off October's high. The low-range close set the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends the decline off October's high, the 75% retracement level of the September-October-rally crossing at 11.65 is the next downside target. Closes above the 20-day moving average crossing at 12.45 would confirm that a low has been posted.    

March cotton closed slightly lower on Thursday as it extends the decline off December's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower possible near-term. If March extends this month's decline, the 75% retracement level of the 2016-2018-rally crossing at 74.04 is the next downside target. Closes above the 20-day moving average crossing at 76.24 are needed to confirm that a short-term low has been posted.